> For the complete documentation index, see [llms.txt](https://docs.hypha.sh/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hypha.sh/liquid-staking/pstavax/benefits-of-holding-pstavax.md).

# Benefits of Holding pstAVAX

While `pstAVAX` holders forgo staking yield, they gain direct exposure to the growth and success of the Hypha protocol itself through **additional incentives and perks** directly from Hypha.

The primary benefit for holding `pstAVAX` is eligibility for direct rewards, starting with a significant token airdrop.

### The Early TVL Fair Launch Program

The first major incentive for `pstAVAX` holders is the **Early TVL Fair Launch Program**, a key part of the **L1 Season campaign**.

This program is designed to bootstrap the first **$100 million in Total Value Locked (TVL)** for `pstAVAX` and **airdrops** 3.5% of the total HYPHA token supply to these early supporters.

The program is structured in four tiers, with rewards being higher for earlier depositors:

* **First $25m of TVL**: Rewards at the highest rate (5 bps for every 1m).
* **$25m to $50m of TVL**: Rewards at the second-highest rate (4 bps for every 1m).
* **$50m to $75m of TVL**: Rewards at the third-highest rate (3 bps for every 1m).
* **$75m to $100m of TVL**: Rewards at the fourth-highest rate (2 bps for every 1m).

**Airdrop Vesting**: The resulting airdrop for participants will be 50% unlocked at the token launch, with the remaining 50% vesting linearly over the following 6 months.


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